ATRenew Inc. Sponsored ADR (NYSE:RERE) Short Interest Up 44.9% in March

Key Points

• Short interest jumped 44.9% in March to 3,366,308 shares (about 1.4% of shares sold short), with a days-to-cover ratio of 1.5 based on average volume.
• ATRenew declared a dividend of $0.10 per share; the ex-dividend and record date is Monday, April 6, and the payment is scheduled for Friday, April 24.
• Shares traded down 2.7% to $4.80, valuing the company at $1.05 billion; ATRenew reported last-quarter EPS of $0.12 on $893.92 million revenue, and the consensus analyst rating is "Hold" despite a recent upgrade to "Strong‑Buy" by one firm.

ATRenew Inc. Sponsored ADR (NYSE:RERE - Get Free Report) was the target of a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 3,366,308 shares, an increase of 44.9% from the February 26th total of 2,323,327 shares. Approximately 1.4% of the shares of the stock are sold short. Based on an average trading volume of 2,203,276 shares, the days-to-cover ratio is currently 1.5 days.

ATRenew Stock Down 2.7%

NYSE RERE traded down $0.14 on Friday, reaching $4.80. The company had a trading volume of 1,027,162 shares, compared to its average volume of 1,739,478. The stock has a market capitalization of $1.05 billion, a PE ratio of 23.98 and a beta of 0.19. ATRenew has a 12 month low of $2.00 and a 12 month high of $6.47. The firm's 50 day moving average price is $5.62 and its 200 day moving average price is $4.99.

ATRenew (NYSE:RERE - Get Free Report) last issued its quarterly earnings data on Saturday, February 14th. The company reported $0.12 earnings per share for the quarter. ATRenew had a return on equity of 9.87% and a net margin of 1.60%.The firm had revenue of $893.92 million during the quarter. On average, research analysts expect that ATRenew will post 0.09 EPS for the current year.

ATRenew Announces Dividend

The company also recently declared a dividend, which will be paid on Friday, April 24th. Shareholders of record on Monday, April 6th will be issued a dividend of $0.10 per share. The ex-dividend date is Monday, April 6th.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RERE. Wall Street Zen upgraded ATRenew from a "buy" rating to a "strong-buy" rating in a research report on Sunday, March 22nd. Weiss Ratings restated a "hold (c-)" rating on shares of ATRenew in a research note on Monday, December 29th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of "Hold".

Institutional Trading of ATRenew

Several hedge funds have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. bought a new stake in ATRenew in the third quarter worth $2,466,000. Parametrica Management Ltd grew its stake in shares of ATRenew by 260.0% in the 3rd quarter. Parametrica Management Ltd now owns 544,946 shares of the company's stock worth $2,507,000 after buying an additional 393,566 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of ATRenew in the 2nd quarter worth $483,000. Citigroup Inc. increased its holdings in shares of ATRenew by 109,141.5% in the 3rd quarter. Citigroup Inc. now owns 1,126,280 shares of the company's stock worth $5,181,000 after buying an additional 1,125,249 shares during the last quarter. Finally, New York State Common Retirement Fund purchased a new stake in shares of ATRenew during the 3rd quarter valued at about $903,000. 19.29% of the stock is owned by hedge funds and other institutional investors.

About ATRenew

ATRenew Inc, through its subsidiaries, operates pre-owned consumer electronics transactions and services platform in the People's Republic of China. It primarily sells mobile phones, laptops, tablets, drones, digital cameras; and vintage bags, watches, liquor, gold, and various household goods through its online platforms and offline stores, as well as provides services to third-party merchants to sell the products through its platforms. The company was formerly known as AiHuiShou International Co Ltd.

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